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Betting Becomes Legal In NC: What You Need To Know
Published 6:11 am Tuesday, January 30, 2024
In a groundbreaking move, the state of North Carolina officially legalized sports betting on January 8, 2024. However, gamblers will still have to wait to discover the full spectrum of online and mobile sports betting as several licenses are still pending approval. To keep you in the loop, here’s an update on the latest sports gambling status and alternatives available to betting enthusiasts in the state.
Thanks to recent legalization, North Carolina has joined the ever-growing list of American states embracing the sports betting industry. At the time of writing, in-person sportsbooks are operational in three tribal casinos: Cherokee Casino Resort (Cherokee), Harrah’s Cherokee Casino (Cherokee), and Harrah’s Cherokee Valley River Casino (Murphy). Additionally, eight in-person sportsbooks, authorized at specific professional sports venues, are awaiting licensing.
However, the eagerly anticipated online and mobile sports betting is yet to receive regulatory approval. The North Carolina Lottery Commission is tasked with licensing and regulating sports betting operators, with the timeline for online launch remaining somewhat uncertain. Current estimates suggest that online betting could become available in the first half of 2024.
While sports enthusiasts eagerly await the convenience of online sports betting, there are legal alternatives for both sports betting and casino gaming currently available in North Carolina. For example, there are many offshore sites that allow you to bet on both sports and casino games, and it’s 100% legal to do so. If you don’t want to share your personal details or go through laborious checks, choose a no KYC casino site, so you can start online gambling in mere minutes. If you’re looking for in-person betting options, the tribal casinos stand as the only legal choice in North Carolina – for now. These establishments provide a diverse array of betting options and are ideal as temporary outlets while NC works towards the full-scale implementation of sports betting.
Sports betting is set to have a significant impact on North Carolina. Projections estimate that the state could see a staggering $7 billion in bets in the first year of online sports betting alone. Drawing insights from similar markets like Virginia and Tennessee, which experienced a surge in betting activity within their first months after legalization, North Carolina’s high potential for sports betting participation is pretty clear. The state’s strong sports culture, with passionate fanbases for teams like the Carolina Panthers, Charlotte Hornets, and UNC Tar Heels, suggests a sincere interest that should contribute to the growing betting landscape.
Getting Started With Sports Betting
If you are new to sports betting, we’ve compiled a quick guide to the different types of wagers that you will want to consider.
Understanding the basics of moneyline bets is crucial for anyone stepping into sports betting. This type of bet involves predicting the winner of a game. The plus and minus signs associated with moneyline bets indicate the potential payout. A minus sign denotes the favored team, while a plus sign signifies the underdog. The formula to calculate potential winnings involves multiplying the wager by the odds divided by 100.
Then there are over/under wagers to consider. These are centered around predicting whether one or both teams will score more or fewer points than the number assigned by sportsbooks. The point total, usually listed after the point spread with an “o” or “u,” is presented in front of a number. For instance, if the total for a game is set at 41.5 points, betting the over expects the teams to score at least 42 points, while betting the under anticipates a combined score of 41 points or fewer.
Next, point-spread betting involves placing money on a team to win by a specific number of points. For example, if the favored team is the Buccaneers with a five-point spread against the Panthers, they need to win by more than five points for a successful bet, and vice versa, if the underdog Panthers win or lose by four points or fewer, the bet is successful.
Lastly, parlay betting is an exciting strategy that combines multiple wagers into a single bet. For instance, parlaying the Buccaneers’ moneyline and the Saints’ moneyline could result in a higher payout if both teams win.